Average new car prices set to hit record $46,259 in August
The average transaction price paid for a new car is expected to hit an all-time high of $46,259, according to J.D. Power, with monthly finance payments also at record levels.
Hyundai speeding up Georgia electric car factory plans after losing EV tax credits, report says
Hyundai may be speeding up its plans to build a new electric vehicle factory in Georgia following the elimination of its South Korean-made vehicles from tax credits.
Hyundai, Kia recall over 280K vehicles due to fire risk, urge owners to park outside
Trailer hitch wiring fires have forced Hyundai Motor Company and Kia Motors to recall tens of thousands of SUVs. There have been no crashes or injuries reported.
Ford is the latest major company to confirm layoffs
Fox News contributors Liz peek and Byron York discuss how the Biden administration is handling the jobs market ahead of this November's midterms on 'The Evening Edit.'
Monterey Car Week auctions set record with $469 million in sales
The Monterey Car Week auctions set an all-time record of $469 million in total sales, smashing the $395 million mark set at the annual event in 2015.
Ford laying off 3,000 employees to cut costs, pay for EV transition
Ford said on Monday it will notify some workers this week in the U.S., Canada and India that their jobs will be cut. The automaker will lay off 3,000 people.
Tesla loses California racial bias challenge
A California administrative law agency declines to review challenge by Elon Musk's Telsa that state civil rights watchdog rushed investigation.
Ford will appeal $1.7 billion verdict resulting from fatal crash in Georgia
Ford Motor Co. will appeal the $1.7 billion verdict against it that was delivered last week. The case stemmed from a pickup truck crash that killed a Georgia couple.
Tesla CEO Elon Musk says price of Full Self-Driving system will increase to $15,000 in September
Tesla CEO Elon Musk tweeted on Sunday that the price of FSD is increasing to $15,000 on Sept. 5, which is an increase from the current $12,000.
Australian bank will end loans for new gas and diesel cars in shift to electric vehicles
Bank Australia announced this week that it will stop offering loans for new gas and diesel cars in 2025 as part of the shift to electric vehicles.
Inflation law tax credits to brighten platinum prices
The Inflation Reduction Act recently signed by President Biden is expected to bolster platinum prices through clean vehicle tax credits and incentives for green hydrogen.
How long will gas prices stay down?
U.S. Oil and Gas Association president Tim Stewart analyzes how an oil tax in the Inflation Reduction Act could impact gas prices on 'Maria Bartiromo's Wall Street.'
Gas prices drop below $4 again, AAA says
Gas prices slid back below $4 per gallon last week as demand continues to fall, according to AAA.
GM restores dividend, resumes stock buybacks
General Motors is bringing back a quarterly dividend to return capital to shareholders while also eyeing opportunistic stock purchases.
Toyota exec says car shortage will last another year and shoppers may reject EV push
Toyota's head of sales, Jack Hollis, expects the supply crisis to continue for another year and that the industry will never return to pre-shortage norms.
Is the Inflation Reduction Act's tax credit for electric cars enough? Americans share whether they're buying
The electric vehicle tax credit in the Inflation Reduction Act is not enough to convince consumers to buy a new electric car, some Americans in D.C. say.
GM, LG Energy Solution looking at Indiana for battery plant
General Motors and LG Energy Solutions are developing plans to build a fourth U.S. battery plant potentially in New Carlisle, Indiana.
Is the Inflation Reduction Act's tax credit for EVs enough? Americans share whether they're buying
The electric vehicle tax credit in the Inflation Reduction Act is not enough to convince consumers to buy a new electric car, some Americans in D.C. say.
Tesla to get into electricity retail market in Texas
Electric automaker Tesla plans to get into the electricity retail market in Texas, according to a new job posting
Alliance for Automotive Innovation president reveals the key to bringing down electric vehicle prices
Alliance for Automotive Innovation President and CEO John Bozzella discusses the prices and innovation of electric vehicles, arguing the U.S. needs access to raw materials.